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It's a winter weekend in Sydney's bustling northern suburb of Chatswood and a three-bedroom family house sporting an endless garden is up for auction. Auctions are a bellwether of demand in property-obsessed Australia, where attending sales is almost a national pastime. It is therefore telling that only just over half were successful the weekend last month a Reuters reporter visited some of Sydney’s auctions, compared to more than two-thirds for all of last year.
Martin Sorrell beat WPP (Swiss: OXWPP.SW - news) in the race to buy a Dutch digital agency on Tuesday, infuriating his former company and revealing the animosity raging between the two sides. Sorrell left the world's biggest advertising group WPP in April over a complaint of personal misconduct. Leaving without a non-compete clause, he set up a new company weeks later and took on his former firm in a bid battle for the agency MediaMonks.
The world economy was in an unusual position last year, posting "synchronized" growth for the first time since the 2007-09 crisis. The divergence between the Fed and other central banks is fostering division at just the wrong time, as the dark clouds of currency and trade wars gather over the world economy. Higher U.S. borrowing costs and the stronger dollar they deliver are an effective tightening of global financial conditions.
Crude prices fell on Tuesday in volatile trading after early gains had lifted the U.S. benchmark past $75 a barrel for the first time in more than three years, which prompted traders with bullish positions ...
Aircraft financier Amedeo said on Monday it had agreed a partnership with the owners of Intrepid Aviation Holdings, in a deal bringing together two leasing firms that have bet their futures on the high-stakes market for wide-body jetliners. Under the deal, private equity firms Centerbridge Partners and Reservoir Capital (Frankfurt: A1XFU8 - news) agreed to acquire a minority of Amedeo Capital (Other OTC: CGHC - news) , while Amedeo will take a minority share in Intrepid and also take over its U.S. aircraft management subsidiary. The assets are wide-bodied aircraft on lease to good airlines," Amedeo Chief Executive Mark Lapidus said in an interview.
British private equity firm TDR Capital and U.S. real estate investment group Starwood Capital have been given more time to make takeover offers for IWG , the London-listed serviced office provider. The ...
Wall Street looked set for a subdued start after Europe's the yuan dropped to two-year and six-month lows respectively in Asia. Like Wall Street on Wednesday, they suffered after U.S. President Donald Trump and White House economic adviser Larry Kudlow outlined plans to clamp down on Chinese acquisitions of sensitive American technologies.
Britain's banks could deal with a hard Brexit next March if necessary, the Bank of England said on Wednesday, rejecting European Union warnings that lenders are inadequately prepared. Following are highlights of remarks by Bank of England Governor Mark Carney and colleagues at a news conference in which they presented the central bank's half-yearly Financial Stability Report. "The biggest remaining risks of disruption (involving Brexit) are areas where action is needed by both UK and EU authorities, such as ensuring the continuity of the 96 trillion pounds of existing derivatives contracts, in both cleared and uncleared markets.
LONDON/PARIS, June 25 (Reuters) - A self-employed trader in France accumulated stock futures worth $6.6 billion in a single day, trading records show, raising questions among investors about how he could build up such a large position despite having only 20,000 euros in his account. When contacted, Traore, 41, referred to a court document reviewed by Reuters in which he confirmed the trades and said they had resulted from a mistake because he had initially thought he was trading on a practice platform where trading limits did not apply, rather than, as it turned out, a live one.
* Britain's energy regulator Ofgem on Wednesday picked Diamond Transmission Partners as preferred bidder to own and operate the 530 million pound transmission link to the Race Bank Wind Farm off the Norfolk ...
British discount retailer Poundworld has fallen into administration, a form of creditor protection, administrator Deloitte said on Monday, becoming the latest victim of brutal trading conditions on the ...
U.S. hedge fund Hudson Bay Capital (Other OTC: CGHC - news) is opening an office in Britain to expand its European trading book, two sources told Reuters on Tuesday. Hudson Bay, which runs $2.8 billion in assets across equity, credit and other assets, has hired a team of three for its new London base and plans to add more staff, the sources with direct knowledge of the matter said. Other U.S. hedge funds are have also increased investment in Europe, including high-profile activists such as Elliott Advisers, amid increased competition and less attractive valuations at home.
A Autoridade de Concorrência 'chumbou' o pacote de compromissos propostos pela Altice para comprar a líder dos media de Portugal, Media Capital, porque não defende os interesses dos consumidores, nem garante ...
** British serviced office provider's shares up 2.4 pct, top riser on FTSE 250 in decent volume ** Prime Opportunities Investment Group said IWG had rejected its offer approach and that it was considering ...
Diageo (LSE: DGE.L - news) , the FTSE-100 drinks giant behind Smirnoff and Guinness, has kicked off an auction of US-focused spirits brands including Goldschlager, a cinnamon schnapps it has owned for more than 20 years. Sky News has learnt that Diageo, which is pursuing a strategy to focus on premium labels, began holding talks with potential buyers of the portfolio in recent weeks. Centerview Partners, an investment bank which specialises in consumer goods deals, is handling the sale process, according to a person close to Diageo.
European private equity firms Nordic Capital (Other OTC: CGHC - news) and Inflexion have raised a combined $8 billion in funds, the Financial Times reported on Sunday. Nordic Capital raised 4.3 billion euros ($5.1 billion) for its latest flagship fund, the FT reported, adding that the funding surpassed its 3 billion euro target and planned 4 billion euro upper limit in 11 months. Inflexion raised a total of 2.25 billion pounds ($3 billion) in two separate funds from investors that included New York State Teachers Retirement System and the Illinois Municipal Retirement Fund, the report said.
Oil prices slipped on Friday, but remained near 3-1/2 year highs on Friday as the prospect of new U.S. sanctions on Iran tightened the outlook for Middle East supply at a time when global crude production is only just keeping pace with rising demand. The United States plans to reintroduce sanctions against Iran, which pumps about 4 percent of the world's oil, after abandoning a deal reached in late 2015 that limited Tehran's nuclear ambitions in exchange for the removal of U.S. and European sanctions.
Capital (Other OTC: CGHC - news) gains from a range of assets acquired by the Irish Central Bank during Ireland (Other OTC: IRLD - news) 's banking crisis contributed to a record profit of 2.6 billion euros last year, with 2.1 billion euros transferred to the state to help cut the national debt. The assets are mostly related to the liquidation in 2013 of the collapsed Anglo Irish Bank, and have generated an income surplus from interest paid and capital gains on their disposal. The central bank recorded a profit of 2.3 billion euros in 2016, when it returned 1.8 billion euros to the state.
LONDON/MILAN, May 8 (Reuters) - British hedge fund Caius Capital (Other OTC: CGHC - news) has asked the European Banking Authority (EBA) to open an investigation into the regulatory treatment of a complex financial instrument as UniCredit's core capital. In a May 3 letter seen by Reuters, Caius asked the EBA to examine a 2.98 billion euro ($3.46 billion) convertible bond issued in 2008, which it said had been misclassified as Common Equity Tier (CET) 1, or the best-quality capital held by a bank and a key measure of its financial strength.
French property group Fonciere des Regions made its first foray into the British market on Thursday, in a deal to buy 14 upmarket hotels from Starwood Capital for 858 million pounds . The transaction will ...
British online fast-fashion retailer Boohoo beat forecasts with a 40 percent jump in annual profit and an almost doubling of revenue as its mainly younger customers snapped up its budget-friendly designs. Its robust performance and that of bigger online peer ASOS highlights how the Internet is reshaping the British retail landscape and the clothing sector in particular. Founded in Manchester, northern England, in 2006, Boohoo has expanded rapidly, purchasing the PrettyLittleThing and Nasty Gal brands at the beginning of last year.
Oil edged higher and stocks on Wall Street recouped steep initial losses on Wednesday after China retaliated in a trade spat with the United States, but investors set aside concerns as any impact from a budding tariff war is still unknown. "There's a growing belief this is brinksmanship and posturing and the likelihood of us seeing a trade war is pretty small," Robert Phipps, a director at Per Stirling Capital Management in Austin, Texas.
The dollar recovered against the yen and Swiss franc on Wednesday, bolstered by a rebound on Wall Street, as investors turned less pessimistic about the impact of China's move to slap tariffs on key U.S. ...
Canada's Eldorado Gold Corp said on Wednesday it received a positive ruling from arbitrators on its planned metallurgy plant in Greece, but is awaiting mine development permits as it considers its next steps. Shares (Berlin: DI6.BE - news) in the Vancouver-based miner bounced 10 percent higher on Thursday morning before edging back to a 3.5 percent gain, at C$1.18 mid-session on the Toronto Stock Exchange. Greece had argued that Eldorado's 2014 technical report on the Madem Lakkos metallurgy plant, which will process Skouries and Olympias concentrate, was in breach of a 2003 contract on its acquisition of mining assets in the Halkidiki region.
U.S. Treasury yields rose from to six-week lows on Friday as stocks appeared stronger, after tumbling on Thursday on concerns about global trade wars. China urged the United States on Friday to "pull back from the brink" as President Donald Trump's plans for tariffs on up to $60 billion in Chinese goods moved the world's two largest economies closer to a trade war. Stocks markets fell globally as investors feared the impact of tariffs on global growth, before retracing some of their losses on Friday morning.